Each year the Standardbred Breeders Of Ontario Association (SBOA) offers nine individuals the opportunity to purchase a share of a Standardbred yearling. With the assistance of a knowledgeable mentor and an experienced trainer, both carefully selected by the SBOA, the nine newcomers to harness racing are guided through the intricacies of ownership. Participants learn about purchasing a yearling, preparing a young horse to race, selecting stake engagements and many other aspects of ownership, all while enjoying the fellowship and support of the group.
The Owner’s Story
In 2005 James Trott participated in the inaugural SBOA New Owner Group. Under the guidance of mentor Gary Forester and trainer Bob Young, Trott and his fellow group members purchased pacing filly Tryst Seelster and watched the filly earn $27,737 in her racing career. The experience launched Trott on an ownership journey that has seen him own shares of some 20 racehorses, including $639,035 winner Piece Of The Rock.
“If you get lucky and you get a good horse, its quite an adventure. We went to the Little Brown Jug, we were in the North American Cup, the new Jersey Classic, we were in a bunch of them, but the highlight was third place in the North American Cup,” says Trott of Piece Of The Rock’s sophomore campaign in 2010. “It was fun.”
Trott currently owns shares of seven horses and says most members of the 2005 mentorship group continue to participate in the harness racing industry.
“The mentoring program got us into it, helped walk us through it,” says the Orangville, Ontario resident. “It’s a great introduction for a fraction of the cost of full ownership of a horse.”
How To Get Involved:
The New Owner Mentoring Group is funded through a $4,500 contribution from each participant, including the mentor, and a $15,000 forgivable loan from the SBOA. The resulting $60,000 is used to purchase an Ontario Sired yearling at the fall sales and for the costs of training and staking for the first year of ownership. The group is governed by a formal partnership agreement that outlines, among other things, decision making and the requirement for the group to wrap up no later than the end of the horse’s four-year-old season.
If you are interested in an application for the New Owner’s Mentoring Group, you can download an application by clicking here. For more information contact SBOA Director Tammy McNiven by phone at 519-318-8882 or email email@example.com
Mentors And Trainers
SBOA selects the Mentors and Trainers for its Partners with great care, ensuring that these are individuals who fully support the goals of the program. Both Mentor and Trainer will be open to communicate candidly with new owners. All questions get answered and every effort is made to ensure partners have a positive educational, financial and social experience.
The group will meet in late August or early September to formalize their partnership and plan strategy for the fall sales. New owners will have the opportunity to discuss and learn about the whole process of selecting and purchasing a yearling with their Mentor and Trainer.
Past mentors and program information is available in the following chart.
|YEAR||MENTOR||TRAINER||STABLE NAME||HORSE’S NAME||EARNINGS||PROGRAM STATUS|
|2005||Scott Arsenault||Scott McEneny||Ten To Win Stable||Lemon Drop||$164,559||Completed|
|2005||Gary Foerster||Bob Young||In It To Win Stable||Tryst Seelster||$27,737||Completed|
|2006||Ray Bednarz||Ben Wallace||Good To Go Stable||Cant Quit Smiling||$49,244||Completed|
|2006||Mike Hamilton||Rene Laarman||Count Ten Stable||Justa Minx||$42,934||Completed|
|Mark Steacy||Mark Ten Stable||Allmar Surprise||$531,518||Completed|
|2007||Glen Smith||Jason Libby/
|Avaia’s Dreamers||Keson’s Avaia||$100,206||Completed|
|2008||Rick Kostoff||Casie Coleman||Ten Most Wanted Stable||MG Homerun||$142,183||Completed|
|2008||Tom Broadhurst||John Kopas||Grin For Money Stable||Grin For Money||$406,662||Completed|
|2009||Rich Thompson||Darren McCall||Machthreeoverdrive||$0||Completed|
|2010||Dan Clark||Mike Keeling||Caveator Stable||Our Mojo||$96,105||Racing|
|2011||Brian Webster||Tony O’Sullivan||Dream Team Stable||Bad Boy Matt||$28,445||Racing|
A limited partnership will be formed for each group and funded as follows:
a) There will be 10 “A” partners comprised of the Mentor and 9 New Owners, each investing $4,500, including the Mentor. One “B” partner, being the SBOA, will contributea$15,000 “forgivable loan” to the Partnership.
b) The Partnership will be assigned a pre-screened Trainer by the SBOA.
c) The Partnership will acquire one yearling at the fall sales. The Yearling will be an Ontario Sires Stakes (OSS) eligible horse sold at public auction in Ontario. The partners will set their final budget for the yearling purchase (generally in the range of $22 – $28,000). As a result, with initial funding of $60,000, the Partnership should have funds for the training costs, staking etc. for the first year of ownership.
d) The SBOA has prepared a formal detailed Partnership Agreement to govern the affairs of each partnership which specifically includes provisions that only the “A” partners vote on the business affairs of the Partnership and a simple majority rules. Monies earned will go first to the “A” partners to recoup their initial investments and then to the “B” partner (the SBOA) to repay the forgivable loan.
As soon as the SBOA forgivable loan is repaid (after all “A” partners have recovered their initial investment), the SBOA relinquishes all ownership in the Partnership. Each partnership also provides that while the partners can decide by vote to sell their horse at any time, the horse must be sold at the end of the four-year-old season to ensure liquidity for the partners.
e) The Mentor will arrange regular meetings with the Trainer and provide the financial management of the Partnership, as well as written progress reports to the partners.